Daily Gold News: Tuesday, Mar. 30 – Gold’s Breakdown

The gold futures contract lost 1.02% on Monday, as it broke below its short-term consolidation following rebound from March 8th local low of $1,763.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is extending the decline, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 1.1% lower this morning, as it is getting closer to the mentioned early March local low. What about the other precious metals? Silver is 1.4% lower, platinum is 0.1% lower and palladium is 0.3% higher today. So precious metals are lower this morning.

Today we will get the CB Consumer Confidence release at 10:00 a.m. We will also get some Fed-talk and economic data releases from China later in the day.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Tuesday, March 30

• 9:00 a.m. U.S. – FOMC Member Quarles Speech
• 10:00 a.m. U.S. – CB Consumer Confidence
• 2:30 p.m. U.S. – FOMC Member Williams Speech
• 9:00 p.m. China – Manufacturing PMI, Non-Manufacturing PMI

Wednesday, March 31

• 8:15 a.m. U.S. – ADP Non-Farm Employment Change
• 8:30 a.m. Canada – GDP m/m
• 9:45 a.m. U.S. – Chicago PMI
• 10:00 a.m. U.S. – Pending Home Sales m/m

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

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